This large Four bedroom single family home is located on a nice street in Brooklyn Centre on the Westside of Cleveland, the house is just a short walk to Denison Elementary school, one of the best schools in the area. The property has just been updated inside and is now in a great rental ready standard. The roof was also replaced recently and the property also has an ADT security system in place. The management company will be placing brand new tenants when the new owner closes on the property paying between $850 – $900 in rent each month.
Brooklyn Centre is located on the Westside and viewed as a very central location in Cleveland Ohio, it is just 5.3 miles from Downtown Cleveland and only 2.9 miles from Detroit Shoreway which is one of the best areas in Cleveland. The property is also only 1.3 miles from Cleveland Metroparks Zoo and food court which is a lovely family area of Cleveland.
Purchase price: 44,900
Gross annual rental income: $10,800
Property running costs: $2,604
(Tax, insurance and management costs)
Net annual rental income: $8,196
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%